1. Petrol price rises by Rs 7 per litre: Delhi drivers suffer the most from hike, but rate highest in Mumbai

Petrol price rises by Rs 7 per litre: Delhi drivers suffer the most from hike, but rate highest in Mumbai

The financial capital of India, Mumbai is also facing a similar situation. Mumbaikars are spending a whopping Rs 79.14 per litre - highest since August 2014.

By: | Published: September 10, 2017 7:21 PM
Since July, the price of petrol and diesel has seen a rise of Rs 6.94 and Rs 4.73 per litre, respectively. (Reuters photo)

Delhi witnessed a drastic hike in the petrol pricing on Saturday and the new price is at a pinching rate of Rs 70.03 per litre. As per News18 report, this rise has taken petrol rates to the highest in last eight months. Since July, the price of petrol and diesel has seen a rise of Rs 6.94 and Rs 4.73 per litre, respectively. The financial capital of India, Mumbai is also facing a similar situation. Mumbaikars are spending a whopping Rs 79.14 per litre – highest since August 2014.

As per the report by PTI, the state-owned oil companies in June dumped the 15-year old practice of revising rates every 15 days, that is on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost. Rates during the first fortnight dropped but have been on the rise since July 3. Oil Minister Dharmendra Pradhan last week announced that the prices of petrol and diesel will be revised on the daily basis so that any drop in international oil rates will be passed on to consumers immediately rather than having to wait for 15 days. Despite this, the increase in price of the fuel struck the pocket of common man hard.

Pradhan had said that the practice was in the interest of consumers and that he did not think there was a need to change it. The minister, however, blamed the rise in global oil prices as the result of an increase in the fuel prices. “Daily revision in prices is good. When we started daily revisions on June 16, rates dropped in the first fortnight. Thereafter it has increased mainly because of rise in global oil prices,” he said.

  1. m
    mohd. ibrahim
    Sep 11, 2017 at 11:26 pm
    We sifficiently progressed and this is the obvious after affect. In the waiting of achche din we must be ready to sacrifice for the nation. After all all taxes and levies go for nation building.
    Reply
    1. Jayesh Sheth
      Sep 11, 2017 at 12:59 pm
      Sir, it is very difficult for a common people that lst few days on daily basis govt. increase the price of petrol and within 20 days the price increased by nearly 8 Rs.How they will manage the inflation and nobody in the country speak in this regard,beacuse this issue effect the evvery people of ountry.The main reaon is that there is no strong opposition party in the country and govt. is doing whatever they like with symanphty of public sentiment and common people has to suffer a lot.Even they have already cut the subsidy on lpg.They cut of kerosinne supply,sut of sugar supply below poverty line Farmers are very hungry It is very difficult to leave for a common people.
      Reply
      1. Sheik Mohamed
        Sep 10, 2017 at 9:11 pm
        Instead of passing falling prices of petroleum products at international market, saffronized party government led by NAMO fleecing common men? Is this signal for arrival of Good days?
        Reply

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